In 2020, Gamma sold used equipment for $13. The equipment had an original cost of $80 and accumulated depreciation as of the date of sale was $60. It also purchased held-to-maturity securities for$9. Net income for the year was $66 after deducting $12 in depreciation expense. There were no other transactions conducted during the period. How much are the 2020 operating cash flows for Gamma

At the end of the fiscal year, apha airlines has an outstanding non-cancellable purchase commitment for the purchase of 1 million gallons of jet fuel at a price of $4.10 per gallon for delivery during the coming summer. the company prices its inventory at the lower of cost or market. if the market price for jet fuel at the end of the year is $4.50, how would this situation be reflected in the annual financial statements?